Fall in sales of £1m-plus properties

Nearly 150 homes across Bath sold for more than £1 million in the past year.

The findings by Property Solvers revealed that there were 149 residential home sales with a value of over £1 million pounds across the Bath (BA) postcodes from September 2021 up to September 2022.

Using HM Land Registry sold house price statistics, the home buying company and local auctioneer reported the total value of these sales at £239,095,463.

In terms of the number of such properties sold, this puts Bath in 27th position across England, Wales and Scotland - above Enfield and below Bristol.

The most expensive property in a BA postcode sold in the past 12 months was at Royal Crescent which went for £4,650,000.

However the number of top price properties being sold has dropped compared to the same period last year, with sales down from a value £363.46 million.

This could be down to the soaring cost of living and the uncertainty surrounding the economy.

Property Solvers co founder Ruban Selvanayagam said: “Although there remains a fairly healthy volume of sales in this price bracket, such a pronounced drop would suggest buyer appetite for these types of homes is decreasing.

“£1 million+ properties - even for the wealthy - are a major commitment and indeed affected by the wider economy. With continued inflationary pressures and rising interest rates as a result, it would not be too much of a surprise to see a continued cooling off across the high-end property market in the coming year at least.”

Some of the other most expensive properties sold across Bath (BA) over the past year include: Sion Hill, Bath - £4,600,000; Lansdown Crescent, Bath - £4,250,000; Bathampton Lane, Bathampton, Bath - £3,550,000.